British inflation may send the GBP up
Great Britain will publish the Inflation Rate on October 20, at 09:00 MT time (GMT+3).
GBP/USD finds a support
During the conference in Hague, German Chancellor Angela Merkel said that the EU would find a backstop solution by October 31 (Brexit deadline). GBP/USD positively reacted to her comments and jumped by more than 140 pips. At the moment of writing, the cable has been testing the resistance at 1.2250. If this level is broken, the next resistance will lie at 1.23. If bears take over the market, the pair will reverse towards the 1.2108 level. The next key level for bears will be placed at 1.2042.
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Trade ideas for June 14-18
All eyes are turning to the Federal Reserve and the US dollar. How to trade XAU/USD, EUR/USD, and GBP/USD?
The GBP may be supported
Great Britain will publish its trade balance for April on June 11, at 09:00 MT time.
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